31 CFR 355.5
§ 355.5 What warranties does a presenting bank make?
United States · 31 CFR — Money and Finance: Treasury · Status: effective
Cite this
- Citation
- 31 CFR 355.5, § 355.5 What warranties does a presenting bank make?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/140273
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Full text
(a) A presenting bank makes the warranties required of a sender under subpart A of regulation J (12 CFR part 210). This paragraph does not limit any warranty by a presenter or other party arising under State law.
(b) We are not barred from recovering on a breach of warranty solely because:
(1) Our negligence contributed to a fraudulent endorsement or material alteration;
(2) We did not promptly discover an unauthorized signature or alteration;
(3) An impostor fraudulently caused the issuance of a fiscal agency check in the name of any existing payee; or
(4) Our employee fraudulently caused the issuance of a fiscal agency check in the name of any existing payee.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.